Global bonds are bonds that are issued and traded in two or more markets but are denominated in the currency of one of the markets. This kind of bond can be traded in a local or European market.

For example, if Local Country issues a global bond denominated in USD in both the US bond market (in which case it is a foreign bond and also called a Yankee bond), as well as the Eurobond market (in which case it is called a Eurodollar bond).